DANGOTE CEMENT DISTRIBUTES OVER N3.3 TRILLION IN DIVIDENDS TO SHAREHOLDERS IN 15 YEARS
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BY OWOLABI OLUWADARA
Dangote Cement Plc has distributed over N3.3 trillion in dividends to its shareholders over the past 15 years, along with substantial capital appreciation of its shares.
This information was revealed on Wednesday during the company’s “Facts Behind the Figures” presentation at the Nigerian Exchange, which was led by its newly appointed Chairman, Mr. Emmanuel Ikazoboh, who recently took over from Aliko Dangote.
Ikazoboh expressed gratitude to the shareholders for their ongoing support and assured them of sustained robust returns. He reiterated the organization’s commitment to transforming Africa by achieving self-sufficiency in cement and clinker production.
“To our investors, you have my steadfast commitment to protecting and enhancing your investment. To regulators and market participants, I vow to maintain our partnership and comply with governance standards. To our employees and collaborators, I convey my appreciation and assurance that our collective strength will propel us to greater accomplishments,” he stated.
Chief Executive Arvind Pathak articulated the company’s growth strategies, aiming to increase its installed capacity to 66.4 million tons per annum (Mta) by 2030 through a combination of greenfield and brownfield initiatives.
He disclosed that Dangote Cement had launched the first phase (1.5 Mta) of its 3 Mta facility in Côte d’Ivoire, while the construction of the 6 Mta integrated Itori Plant in Ogun State was progressing satisfactorily. The company has also allocated $400 million towards doubling its production capacity in Ethiopia.
“Over the past 15 years, Dangote Cement has invested more than $8.5 billion throughout Africa, highlighting our faith in the region’s long-term development,” Pathak noted.
Alhaji (Dr.) Umaru Kwairanga, Chairman of NGX Group, commended Aliko Dangote for his significant contributions to Nigeria’s capital market and the advancement of the private sector, emphasizing his demonstration of how wealth can be generated and shared with the public through the capital market.
Temi Popoola, Group Managing Director of NGX Group, also praised the newly appointed board and expressed optimism that shareholders would find satisfaction under Ikazoboh’s stewardship.
At its most recent Annual General Meeting (AGM) in 2024, Dangote Cement shareholders sanctioned a N502. 6 billion dividend distribution, equating to N30 per share.
Additionally, the company increased its corporate social responsibility (CSR) investments by nearly 470 percent to N3.2 billion, supporting initiatives in education, healthcare, agriculture, infrastructure, and economic empowerment.
Shareholder groups commended the company’s resilience. The President of the Association for the Advancement of Rights of Nigerian Shareholders, Faruk Umar, characterized the substantial dividend in light of economic challenges as a testament to the management’s determination.
Likewise, Bisi Bakare, Chairperson of the Pragmatic Shareholders Association of Nigeria, lauded the company’s consistency. “For the company to declare a N30 per share dividend despite earnings not reaching that level speaks volumes about its leadership. Dangote Cement remains the only manufacturing firm that provided the highest dividend in 2024, and we are proud to be associated with it,” she remarked.
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